The announcement comes as Citi reveals its 2025 Sustainable Progress Strategy
SYDNEY, Aug. 27, 2020 /PRNewswire/ — Citi Australia has today announced a two-year partnership with Taronga Conservation Society Australia ("Taronga"), including sponsorship of the Koala exhibit and a commitment to help support the ongoing conservation work to protect this endangered native animal.
Citi Australia is partnering with Taronga Conservation Society, and sponsoring the Koala exhibit | Photographer: Rick Stevens
The announcement follows the launch of Citi’s global 2025 Sustainable Progress Strategy, whereby the bank is committed to:
- Accelerating the transition to a low-carbon economy through a $250 billion Environmental Finance Goal
- Measuring, managing and reducing the climate risk and impact of our client portfolio
- Driving sustainable operations and becoming 100% powered by renewable electricity by the end of 2020
"Environmental, Social and Governance principles have never been more important, and Citi globally is taking responsibility for driving a more sustainable future," said Citi Australia CEO Marc Luet.
"Locally, Citi Australia is taking a hands-on approach to this by partnering with Taronga and investing in the future of the koala."
The partnership will see Citi collaborate with Taronga’s payments partner, Mastercard, who share a similar focus on conservation and environmental issues
Hitting ambitious targets by 2025
Citi’s five-year 2025 Sustainable Progress Strategy will help accelerate the transition to a low-carbon economy. The $250 Billion Environmental Finance Goal to finance and facilitate climate solutions globally builds on Citi’s previous $100 billion goal announced in 2015 and completed last year, more than four years ahead of schedule.
A key driver to achieve this goal will be Citi’s new ESG banking division in its corporate and investment bank, launched earlier this year. The division will also establish a Global Sustainability Client Council to advise clients on sustainability transitions across coverage areas and a separate advisory group with external subject matter experts.
"The sustainability revolution is here, and our corporate clients are facing new challenges, risks and opportunities. In Australia, we have six employees in our Banking, Capital Markets and Advisory business focused on sustainability and we have been involved in a number of transactions with an ESG focus, including with a major bank and retailer. Across the Asia Pacific, already in 2020 we have led US$8.7bn in transactions for clients," Mr Luet said.
A global bank committed to its local community
Citi shares Taronga’s vision to prioritize ecological sustainability. Through research, education, action and advocacy, Taronga is leading vital work that supports wildlife, habitats and communities across the globe.
Through this partnership, Citi will learn from Taronga’s leadership in sustainability and conservation, and further grow as a corporation committed to ESG principles.
Citi’s sponsorship of the koala will help Taronga build its long-term strategy to identify, connect and restore habitat for priority NSW koala populations. The rehabilitation research Taronga is undertaking, will improve the integration of these rescued and injured Koalas back into the wild.
"The nation’s heart collectively broke during the 2020 bushfires that devastated koala habitats. Before the fires, pressures on the koala were already compounding due to habitat loss, disease, droughts and heatwaves, climate change and urban growth. We might be the world’s most global bank, but we are deeply committed to supporting our local community and we want to ensure the koala is here for many generations to come," added Mr Luet.
More than 1.5 million people visit Taronga each year to experience its unique mix of animal and educational experiences. Citi customers and clients will enjoy bespoke pricing, offers and experiences, including 25% off ticket prices for Citi cardholders.
Additionally, Citi and Mastercard will collaborate on a series of ‘Priceless Cities’ experiences and benefits available exclusively to Citi Mastercard cardholders
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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